We’re an open book. Literally.
We believe in full transparency when it comes to our financial information. Here are Credit Union of New Jersey’s most recent financials for you to review:
Assets | Total |
---|---|
Total Loans | $367,184,670 |
Less: Allowance for Loan Loss | -$2,945,290 |
NET LOANS | $364,239,380 |
1st Mortgages to be sold | $0 |
Total Investments | $44,577,100 |
TOTAL EARNING ASSETS | $408,816,480 |
Total Cash | $3,905,345 |
Total Fixed Assets | $7,726,069 |
Total Other Assets | $14,649,015 |
TOTAL NON-EARNING ASSETS | $22,375,084 |
TOTAL ASSETS | $435,096,908 |
Liabilities | Total |
---|---|
Total Shares | $362,868,100 |
Notes Payable | $39,110,079 |
Other Liabilities | $4,364,900 |
TOTAL LIABILITIES | $406,343,079 |
TOTAL EQUITY | $28,753,830 |
TOTAL LIABILITIES AND EQUITY | $435,096,908 |
Costs and Income | Current Month | Quarter-to-Date | Year-to-Date |
---|---|---|---|
INTEREST INCOME | |||
Interest on Loans | $1,920,109 | $3,744,228 | $9,063,605 |
Income from Investments | $114,385 | $198,249 | $505,891 |
TOTAL INTEREST INCOME | $2,034,495 | $3,942,477 | $9,569,496 |
INTEREST EXPENSE | |||
Interest on Borrowed Money | $198,569 | $366,055 | $853,578 |
Dividends | $167,569 | $326,172 | $743,982 |
TOTAL INTEREST EXPENSE | $366,138 | $692,227 | $1,597,560 |
NET INTEREST INCOME | $1,668,356 | $3,250,250 | $7,971,936 |
Provision for Loan Losses | $155,548 | $227,834 | $2,048,814 |
Provision for Negative Share Losses | $19,404 | $44,938 | $113,102 |
TOTAL PROVISION EXPENSE | $174,952 | $272,772 | $2,161,917 |
NON-INTEREST INCOME | |||
Fee Income | $452,696 | $861,986 | $2,060,134 |
Other Operating Income | $251,538 | $505,476 | $1,378,793 |
TOTAL NON-INTEREST INCOME | $704,233 | $1,367,463 | $3,438,927 |
NON-INTEREST EXPENSE | |||
Employee Compensation & Benefits | $740,711 | $1,459,996 | $3,551,452 |
Travel & Conference | $23,261 | $33,373 | $80,372 |
Office Occupancy | $69,415 | $135,898 | $351,113 |
Office Operations | $113,175 | $225,136 | $566,736 |
Educational & Promotional | $34,112 | $67,361 | $194,535 |
Loan Servicing | $310,136 | $629,472 | $1,323,074 |
Professional & Outside Services | $455,647 | $1,003,833 | $2,444,389 |
Member Insurance | $3,872 | $7,743 | $19,229 |
Operating Fees | $6,790 | $13,580 | $33,950 |
Miscellaneous | $42,235 | $60,255 | $266,083 |
TOTAL NON-INTEREST EXPENSE | $1,799,353 | $3,636,646 | $8,830,934 |
Net Non-Recurring Gain/(Loss) | -$0 | -$1,542 | -$813 |
NET INCOME | $398,284 | $706,752 | $417,199 |
Enjoy the freedom to prosper. If you have questions about our Financials, feel free to give us a call at 609.538.4061 or 800.538.4061, email us at memberservices@cunj.org or stop by one of our convenient branch locations.
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